Strattec Security (NASDAQ:STRT) Upgraded at Zacks Research

Zacks Research upgraded shares of Strattec Security (NASDAQ:STRT) from a strong sell rating to a hold rating in a research report report published on Wednesday,Zacks reports.

Several other equities analysts have also recently issued reports on STRT. Weiss Ratings cut Strattec Security from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Freedom Broker raised Strattec Security from a “hold” rating to a “buy” rating and reduced their price target for the stock from $83.00 to $79.00 in a research report on Tuesday. Finally, Wedbush set a $79.00 price objective on Strattec Security in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $79.00.

Strattec Security Stock Up 2.5%

NASDAQ STRT opened at $61.96 on Wednesday. Strattec Security has a twelve month low of $57.01 and a twelve month high of $93.00. The business’s fifty day moving average is $66.07 and its 200 day moving average is $76.53. The company has a market cap of $249.70 million, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.33.

Strattec Security (NASDAQ:STRT) last announced its quarterly earnings data on Thursday, October 29th. The auto parts company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.38. Strattec Security had a return on equity of 10.06% and a net margin of 2.94%. The firm had revenue of $147.20 million during the quarter, compared to the consensus estimate of $146.60 million. On average, research analysts anticipate that Strattec Security will post 4.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Strattec Security

Several institutional investors have recently made changes to their positions in STRT. BlackRock Inc. bought a new position in Strattec Security in the second quarter worth approximately $26,464,000. Gabelli Funds LLC grew its position in shares of Strattec Security by 41.7% during the first quarter. Gabelli Funds LLC now owns 247,800 shares of the auto parts company’s stock worth $19,413,000 after acquiring an additional 72,900 shares during the last quarter. De Lisle Partners LLP acquired a new stake in Strattec Security in the 2nd quarter valued at about $3,494,000. Empowered Funds LLC purchased a new stake in Strattec Security during the second quarter worth approximately $2,175,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Strattec Security in the 2nd quarter worth about $1,990,000. Hedge funds and other institutional investors own 68.91% of the company’s stock.

About Strattec Security

Strattec Security Corporation (NASDAQ: STRT) designs and manufactures automotive access, security and vehicle-control products. Its offerings include mechanical and electronic locks, latches, keys, ignition systems, power-liftgate and sliding-door systems, actuators, and related security components used in passenger vehicles and commercial vehicles.

The company supplies automotive original equipment manufacturers and other transportation-industry customers. Its products are developed for applications such as vehicle entry, theft deterrence, body access and electronic control, and are produced and supported through operations in North America and other international locations.

Strattec traces its history to the early automotive components industry and became an independent publicly traded company after being spun off from Briggs & Stratton Corporation in 1995.